The firm announced a collaboration with clean technology investment management firm Inspired Evolution on Wednesday. This does not include an equity stake.

The move comes amid uncertainty regarding which countries will be able to host CDM projects under a new climate change agreement. First Climate said it was not driven solely by any proposed shifts in policy for CDM locations. "It's not the core element. We want to be present in all parts of the world. Once we are establishedin South Africa, we will be ready to source CERs from the region," it said.

Post-2012 proposals have suggested that the CDM focus should shift away from emerging economies and towards the world's least developed countries.

There is still no definite list of which countries will be considered as "least developed". There are four to five definitions within the UN, say legal sources. However, many African countries are expected to be within this group and the UN is in teh process of pushing more CDM involvement on the continent through the Nairobi Framework.


Source: www.icis.com/heren (The article is on page 2 of the file.)